U.S. Stocks Slip on Yellen’s Testimony

Fed chairwoman says a December rate increase is a ‘live possibility’

U.S. stocks slipped Wednesday after Federal Reserve Chairwoman Janet Yellen said an interest-rate increase at the central bank’s December meeting was a “live possibility.”

Bond prices fell, and the dollar gained ground against other currencies following the remarks by Ms. Yellen to House lawmakers. She added that the central bank has “made no decision” and any rate increase would depend on an improving U.S. economy.